Gold prices remained at two-week lows as rising US bond yields impacted the metal’s appeal and traders awaited U.S. inflation data that might influence the Federal Reserve’s interest rate path.
Spot gold was down 0.1% to $1,910.96 per ounce, having fallen to its lowest level since August 25 at $1,906.50 on Tuesday.
Gold futures in the United States (GCcv1) fell 0.1% to $1,933.40.
Markets anticipated the consumer price index (CPI) data from the United States, which was scheduled for 1230 GMT, with rising energy costs likely to drive headline inflation estimates higher.
According to the CME FedWatch tool, traders are primarily betting that the Fed will hold interest rates steady at its September 19–20 policy meeting, with a 44% likelihood of another rise before 2024.
